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Geely to sell cars in Egypt via partnership
By Jin Jing |
February 23, 2012, Thursday
|
Print Edition
Print Edition
GEELY Automobile Holdings Ltd has formed a partnership with Egypt's GB Auto to make and distribute Geely models in that country in an important drive to expand its global presence.
The first model, a mid-class sedan Emgrand EC7, may roll off the assembly line at GB's plant in Cairo in the third quarter of this year, with an initial annual capacity of 30,000 units through completely-knocked down production (CKD), Geely said.
The privately-owned automaker, also the Chinese owner of Volvo, said annual production at the new plant would be 50,000 units to meet demand in Egypt and also in markets in north Africa and other Middle East countries.
Geely targets total sales, including the Chinese market, by 9 percent to 460,000 vehicles this year.
"We hope the export business will grow around 50 percent," said Yang Xueliang, a Geely spokesman. "Most of our export destinations are developing countries, which are less affected by the gloomy world economy."
GB Auto, a leading automaker and distributor in Egypt, had 27.7 percent of the market in 2010. It also has operations in Iraq, Syria and Jordan.
Geely also has CKD factories in Russia, Indonesia, Malaysia and Ukraine. It is on track to start selling the Emgrand EC7 in the UK in October, Yang added.
The first model, a mid-class sedan Emgrand EC7, may roll off the assembly line at GB's plant in Cairo in the third quarter of this year, with an initial annual capacity of 30,000 units through completely-knocked down production (CKD), Geely said.
The privately-owned automaker, also the Chinese owner of Volvo, said annual production at the new plant would be 50,000 units to meet demand in Egypt and also in markets in north Africa and other Middle East countries.
Geely targets total sales, including the Chinese market, by 9 percent to 460,000 vehicles this year.
"We hope the export business will grow around 50 percent," said Yang Xueliang, a Geely spokesman. "Most of our export destinations are developing countries, which are less affected by the gloomy world economy."
GB Auto, a leading automaker and distributor in Egypt, had 27.7 percent of the market in 2010. It also has operations in Iraq, Syria and Jordan.
Geely also has CKD factories in Russia, Indonesia, Malaysia and Ukraine. It is on track to start selling the Emgrand EC7 in the UK in October, Yang added.
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